Tel Aviv is the world’s most expensive city, The Economist reported on Wednesday.

strong shekel and price increases for goods and services have moved Israel’s “White City” to the top spot this year—up four from 2020—replacing Paris, according to the Worldwide Cost of Living Survey from the newspaper’s sister company, the Economist Intelligence Unit (EIU).

The annual survey compares the prices of more than 200 products and services in 173 cities globally, The Economist said, explaining that it is used primarily by companies negotiating compensation when relocating staff, but can serve to gauge local and worldwide trends.